U.S. Steel Makes Trade with International Steel Group; Plate Business
for Pickle Line

Pittsburgh, PA— United States Steel Corporation
announced that it has signed a letter of intent with International Steel
Group Inc. (ISG) to exchange the assets of its plate business, including
the plate mill at Gary Works, for the assets of ISG’s No. 2 pickle
line at Indiana Harbor Works. Plate products currently account for about
3 percent of U.S. Steel’s domestic steel shipments. Capable of pickling
560,000 net tons of hot-rolled steel with widths of up to 60 inches, the
No. 2 pickle line is currently exclusively servicing U. S. Steel’s
East Chicago Tin operation. The transaction is expected to close in the
fourth quarter.

“This transaction will allow U.S. Steel to focus
on our core business, value-added sheet products, while continuing the
ongoing consolidation of the steel industry in keeping with President
Bush’s steel program,” said U.S. Steel President and Chief
Operating Officer John P. Surma.